Norah, the sole stockholder of Barnie Inc., runs a home$-$cleaning service in the suburb of a large city. Her balance sheet as at August $31,2019$ is as follows:

Barnie Inc.

Balance Sheet

As at August $31,2019$

Assets

Cash $$5,200$

Accounts Receivable $$18,600$

Equipment $$8,400$

Accumulated Depreciation $$-2,600$

Total Assets $$29,600$

Liabilities

Accounts Payable $$4,400$

Notes Payable $$11,800$

Total Liabilities $$16,200$

Stockholder's Equity $$13,400$

Total Liabilities & Stockholder's Equity $$29,600$

In the upcoming year, Norah expects the following events to occur:

Total revenues of $$26,000$ and total expenses of $$12,990$

$100\%$ of accounts receivable from the prior year will be collected in the following year

Credit sales will represent $55\%$ of revenues for the year

$100\%$ of accounts payable owing from $2019$ will be paid off in $2020$

By the end of August, $2020,$ Barnie will owe its suppliers $$3,300$

No principal payments will be made on the bank loan during $2019$

Purchase of new equipment for $$2,800.$ The entire purchase will be financed through a bank loan

Expect to have a cash balance of $$22,300$ at the end of fiscal $2020$

Depreciate assets by $$890$ during $2020$

Do not enter dollar signs or commas in the input boxes.

Use the negative sign for negative values.

Prepare Barnie Inc.$\text{'}$s budgeted balance sheet as at August $31,2020.$

Barnie Inc.

Budgeted Balance Sheet

As at August $31,2020$

Assets

Cash $Answer

Accounts Receivable $Answer

Equipment $Answer

Accumulated Depreciation $Answer

Total Assets $Answer

Liabilities

Accounts Payable $Answer

Notes Payable $Answer

Total Liabilities $Answer

Stockholder's Equity $Answer

Total Liabilities & Stockholder's Equity $Answer